KUHN GROUP ACQUIRES MONTANA

Kuhn is pleased to announce that an agreement was signed on March 7, 2014 for the acquisition of Montana Indústria de Máquinas S.A. (“Montana”), headquartered in São José dos Pinhais (Paraná), Brazil. This important step was reached following a general understanding regarding the acquisition as announced on January 31, 2014. Closing of the transaction is planned to take place during the second quarter 2014.

Montana is one of the leading manufacturers of self-propelled sprayers in Brazil. Montana also offers a wide range of 3-point mounted, trailed and mistblower sprayers well adapted to the needs of the Brazilian market. Recently, Montana used its self-propelled expertise to enter the new and rapidly growing self-propelled fertilizer spreader market.

“Kuhn and Montana share similar values and the same vision of future market opportunities”, said Michel Siebert, CEO of Kuhn Group. This acquisition represents a major step in Kuhn’s global long-term growth strategy in Brazil and other South American markets. With the Montana product range, customer base, sales network, and geographical coverage being complementary to Kuhn’s, it is expected that the acquisition will prove beneficial to the growth and long term viability of both companies. It also provides Kuhn with an access to Argentina with a local manufacturing platform, and significantly reinforces Kuhn Group’s position in the strategic South American market.

“I look forward to see the continuation of a strong development of our business within the Kuhn family, in Brazil and beyond”, said Gilberto J. Zancopé, Chairman of Montana Indústria de Máquinas. Kuhn will continue to operate Montana with the current management teams and employees.